BCE, Inc. (BCE) Tops Q2 EPS by 1c, Beats on Revenues; Reaffirms FY Guidance

BCE, Inc. (NYSE: BCE) reported Q2 EPS of $0.88, $0.01 better than the analyst estimate of $0.87. Revenue for the quarter came in at $5.7 billion versus the consensus estimate of $5.65 billion.

• Net earnings of $811 million with net earnings attributable to common shareholders of $762 million, or $0.84 per common share; adjusted net earnings of $792 million generated adjusted EPS of $0.88
• Cash flows from operating activities of $2,154 million, up 14.0%, delivering 17.1% increase in free cash flow to $1,094 million
• 7.0% higher service revenue drove 5.0% increase in adjusted EBITDA on year-over-year growth across all Bell segments with favourable financial contribution from Bell MTS
• 106,000 broadband subscriber net additions in postpaid wireless, IPTV and Internet
• Excellent wireless results: 88,611 postpaid net additions, up 26.9%; 12.8% increase in service revenue on 4.6% higher blended ARPU; double-digit adjusted EBITDA growth of 10.2%
• Strong wireline service revenue growth of 5.3% delivering 2.6% higher adjusted EBITDA and industry-best margin of 41.8%
• 40% of long-term broadband fibre program to be completed by end of 2017 with direct fibre connections now increasing to more than 3.7 million locations in 7 provinces, including most homes and businesses in the City of Toronto
• Ongoing innovation in broadband television includes the launch of Alt TV, Bell's new app-based live TV streaming service
• Positive Bell Media contribution to BCE consolidated Q2 results with 2.2% revenue growth driving 0.4% higher adjusted EBITDA

For earnings history and earnings-related data on BCE, Inc. (BCE) click here.

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